Construction in Sri Lanka is a rapidly developing industry with a wide range of projects taking place across the country. It is estimated that the total value of construction projects in Sri Lanka in 2018 was over $2.6 billion. The construction industry in Sri Lanka covers a wide range of sectors, including commercial and residential buildings, infrastructure, energy, and natural resources. It is one of the largest employers in the country, with over 1.3 million people employed in the sector as of 2018.
The construction industry in Sri Lanka is driven by a number of factors, including government initiatives, private sector investment, and foreign direct investment. The government of Sri Lanka has made significant investments in infrastructure development, with the aim of improving the country’s economic competitiveness and creating jobs. Private sector investment has also been significant, with many foreign companies investing in the construction sector. The government has also provided incentives to encourage private sector investment in the sector.
In addition to these factors, the construction industry in Sri Lanka is also driven by the need for housing, as the country’s population continues to grow. The government has been investing heavily in housing projects, with the aim of providing affordable housing to the population. In addition, the construction sector has seen an increase in the number of high-end projects, such as resorts, hotels, and other luxury developments.
Overall, the construction industry in Sri Lanka is a rapidly growing sector, with significant potential for growth in the coming years
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